Most handguns are not assault weapons and are not affected by this law. A traditionally designed handgun is not an assault weapon. For example a single shot pistol or a revolver cannot be an assault weapon.
Unfortunately guns that are not considered 'assault weapons' under the new law are also included in the legislation. Handgun capacity is a huge issue. Many people who have called the NY hotline have gotten affirmative answers, including me, that this may indeed affect revolvers, and absolutely DOES effect traditional semi-auto handguns.